Monday, July 6, 2015

Buying or Selling a Florida Home: What does your counter-offer mean for the transaction?

Whether buying a car or a house most buyers expect to negotiate a little.   But in a hot housing market like the Brevard County, Florida residential market buyers need to consider the competition when they submit an offer.

Is it really in your best interest to offer $10-$15,000 under what you are willing (and have already decided) to pay?

What happens if other offers come in at the same time?  I is not uncommon for several offers to arrive within a 24-hour period while you are awaiting a response.   Keep this in mind when preparing your offer strategy.  And what if the buyer does not counter your offer.  After all, they can choose to just reject it outright.

As a seller, consider your property and the activity you have had (as well as the days on the market) when evaluating an offer.   If you have not received an offer and it has been 30 days, consider whether a reasonable offer should be countered.  There is no guarantee another better offer will come in.

Read about days on the market and what they mean: What do you do if your house is just sitting?

What happens when you counter an offer?  A counteroffer rejects the current offer.  A counteroffer to a counteroffer kills the counteroffer.....etc.

A prospective buyer is not obligated under any previous countered offer.  There is no do-overs as in  “OK, I will take your previous offer.”

Whether buyer or seller consider the advice of your Realtor expert who is working for you when preparing or responding to offers. 

Ready to buy a home in Viera. Florida?  Call me at 321-693-3850 if I can help in any way.